Marketing For Life
Marketing sporadically or not at all is one of the worst business errors that a mortgage broker can make. The reason is that marketing is a core business function, not an optional activity. If you are only moved to launch a marketing campaign because your numbers are down and you need business, it's time to set things straight.
Mortgage lending has been described as a "buy and fly" selling environment. Customers intensely interact with you while their loan is underway, and then drop out of sight when the deal closes. It's up to you to stay in constant communication with clients so that your name (and phone number) stay top of mind. Originators who constantly market to their client base enjoy far more repeat business and referrals than their colleagues who are out of touch.
Be wise and patient enough to know that not all marketing generates immediate results. It takes time to build a brand. Just because you don't hear from some clients doesn't mean they don't appreciate what you send. You'll hear from them when they need you. Remember that calling your clients on a regular basis is also an important marketing function.
Sales follow marketing like thunder follows lightning. If you are serious about growing your business, be a constant marketer who uses several diversified channels to distribute value-added information and special offers to your borrowers and referral partners.
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